MCX Silver futures tumbled more than 1% as weak global cues hurt the sentiments. COMEX Silver extended losses for a four session in a row, sliding to a two week low near $16.66 per ounce. The counter is down 0.73% on the day at $16.72 per ounce right now. Soaring global equities are hitting precious metals in last two sessions. Gold is also down to two week low. MCX Silver futures are down 1.21% at Rs 40693 per kg. 

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After moving higher over the two previous sessions, US stocks showed a lack of direction throughout the trading day on Thursday. Despite the choppy trading on the day, the Dow still ended the session at a new record closing high. On the economic front, a report released by the Conference Board showed that its index of leading US economic indicators rose by slightly more than expected in the month of December. The Conference Board said its leading economic index climbed by 0.5% in December after inching up by 0.1% in November.